First Nickel Completes $500,000 Private Placement

TORONTO, ONTARIO--(Marketwire - Sept. 14, 2011) - First Nickel Inc. ("First Nickel" or the "Company") FNI is pleased to announce that it has completed its previously announced private placement of 3,571,429 common shares at $0.14 per share for aggregate proceeds of $500,000 to Thomas Boehlert the newly appointed President and Chief Executive Officer of the Company.

About First Nickel

First Nickel is a Canadian mining and exploration company that is about to resume production at its Lockerby nickel / copper mine in the Sudbury Basin in northern Ontario. Once the Lockerby Mine reaches full production (expected in 2012), it will produce approximately 10 million pounds of nickel and approximately 7 million pounds of copper annually, providing a strong base of cash flow from which to grow the Company. In addition to the Lockerby nickel mine, the Company owns exploration properties in the Sudbury Basin, the Timmins region of northern Ontario, and the Belmont region of Eastern Ontario. First Nickel's shares are traded on the TSX under the symbol FNI.